Prayers & Duties >> Zakat & Charity

Question ID: 47072Country: India

Title: Payment of zaqat on cash

Question: I have invested in a government saving scheme. Each month I get profit after deduction of tax. How much amount should I pay as zakah?

Answer ID: 47072Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1137/879/D=10/1434) You will have to pay 2.5% zakah on the money which is deposited somewhere or invested in business after completing one year. And if the profits which are received are saved in form of cash then you will have to pay its zakah as well, but if they are spent then obviously there is no zakah on it.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Payment of zaqat on cash

Question: I have invested in a government saving scheme. Each month I get profit after deduction of tax. How much amount should I pay as zakah?

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